How to Save Tax on ₹10 Lakh / ₹15 Lakh / ₹20 Lakh Salary
| Component | Amount |
|---|
| Gross Salary | ₹10,00,000 |
| Standard Deduction | ₹75,000 |
| Taxable Income | ₹9,25,000 |
| Income Slab | Tax |
|---|
| Up to ₹7,00,000 | Nil (Rebate) |
| ₹7-10L: ₹3L @ 10% | ₹30,000 |
| Total Tax | ₹30,000 |
| Cess | ₹1,200 |
| Total | ₹31,200 |
- NPS Contribution: ₹50,000 (80CCD)
- Health Insurance: ₹25,000 (80D)
- Save up to ₹31,200
| Component | Amount |
|---|
| Gross Salary | ₹15,00,000 |
| Standard Deduction | ₹75,000 |
| Taxable Income | ₹14,25,000 |
| Income Slab | Tax |
|---|
| Up to ₹3L | Nil |
| 3-7L: ₹4L @ 5% | ₹20,000 |
| 7-10L: ₹3L @ 10% | ₹30,000 |
| 10-12L: ₹2L @ 15% | ₹30,000 |
| 12-14.25L: ₹2.25L @ 20% | ₹45,000 |
| Total Tax | ₹1,25,000 |
| Cess | ₹5,000 |
| Total | ₹1,30,000 |
- 80C: ₹1,50,000
- NPS: ₹50,000
- 80D: ₹25,000
- Home Loan: ₹2,00,000
- Potential Savings: ₹1,30,000
| Component | Amount |
|---|
| Gross Salary | ₹20,00,000 |
| Standard Deduction | ₹75,000 |
| Taxable Income | ₹19,25,000 |
| Income Slab | Tax |
|---|
| Up to ₹3L | Nil |
| 3-7L: ₹4L @ 5% | ₹20,000 |
| 7-10L: ₹3L @ 10% | ₹30,000 |
| 10-12L: ₹2L @ 15% | ₹30,000 |
| 12-15L: ₹3L @ 20% | ₹60,000 |
| 15-19.25L: ₹4.25L @ 30% | ₹1,27,500 |
| Total Tax | ₹2,67,500 |
| Cess | ₹10,700 |
| Surcharge (10%) | ₹26,750 |
| Total | ₹3,04,950 |
- Max 80C: ₹1,50,000
- NPS Max: ₹50,000
- 80D: ₹25,000
- Home Loan: ₹2,00,000
- HRA: ₹2,00,000
- Potential Savings: ₹1,00,000+
| Section | Max Deduction |
|---|
| 80C | ₹1,50,000 |
| 80CCD(1B) | ₹50,000 |
| 80D | ₹25,000 |
| 80E | Unlimited |
| 24 | ₹2,00,000 |
| 80EE | ₹50,000 |
| Standard Deduction | ₹75,000 |
Strategic planning minimizes tax significantly.
Need Help With Your Tax Filing?
Our expert CAs can help you file your ITR accurately, claim maximum deductions, and ensure compliance. Get started in minutes.